Overview

ICBC Middle East provides a $100 million USD loan to Emirates Airline for the acquisition of an Airbus A380 aircraft

Commitments (Constant USD, 2023)$138,731,777

Commitment Year•2009Country of Activity•United Arab EmiratesDirect Recipient Country of Incorporation•United Arab EmiratesOverseas Jurisdiction•United Arab EmiratesSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 1, 2009

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

This project financed the acquisition of an Airbus A380 aircraft by Emirates Airline, which is headquartered at Airport Rd, opposite to Airport Terminal 3, Garhoud, Dubai, UAE. More detailed locational information can be found at: https://www.openstreetmap.org/way/192394361

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (Middle East) Limited (ICBC Middle East)

Receiving agencies

State-owned companies

Emirates Airline

Loan description

ICBC Middle East provides a $100 million USD loan to Emirates Airline for the acquisition of an Airbus A380 aircraft

Interest type•Unknown

Narrative

Full Description

Project narrative

In November 2009, Industrial and Commercial Bank of China (Middle East) Limited (ICBC Middle East) provided a $100 million USD loan to state-owned Emirati airline Emirates for the acquisition of an Airbus A380 aircraft. This was ICBC's first aircraft financing deal conducted under the German KG financing model. Further details are unknown.